The first buildings for the Station Hill development which front onto Friar Street will be called Ebb&Flow, providing a mix of one, two and three-bedroom apartments.
Ebb&Flow is made up of two buildings which contain a total of 598 apartments, which will be operated by build to rent company Native Residential.
Apartments will be available to occupy this summer, with future residents benefiting from club lounges, private dining rooms, co-working space, ‘pocket parks’ and roof terraces.
The Station Hill project is the brainchild of Lincoln Property Company and MGT Investment Management, which has partnered with other companies to make it a reality.
Celebrating the appointment of Native Residential as managers of the new apartments, Alex Aitchison, UK managing director at Lincoln Property Company, said: “We are delighted to welcome Native Residential as our local Build-to-Rent operating partner to ensure the vision for Station Hill becomes a reality.
“Ebb&Flow is a unique living proposition at a time when there is a surge in housing demand matched with a significant undersupply of professionally managed homes with a wide variety of amenities.
“This scheme fits in well with the wider Station Hill placemaking and the mix of uses is now coming alive.
“We look forward to growing the community for generations to come.”
Alec Newton, director of ‘Origination’ at Native Residential added: “It’s incredibly exciting to be appointed on the first phase of Station Hill. We look forward to working closely with the Lincoln Property Company and MGT teams to ensure the success of this major new BTR destination.
“Native’s appointment recognises our track record in operating best-in-class living assets of scale in prominent urban locations where we pride ourselves on delivering exceptional service, consistent performance and comprehensive reporting for our clients.
“The Native team will ensure the creation of this new sustainable mixed-use community in the heart of Reading which has been designed, and will be operated for performance over the long-term.”
Phase 1 has been named Ebb&Flow to reflect the geographic meeting place of the River Thames and the River Kennet which has established the prominence of Reading.
The Local Democracy Reporting Service attended the topping out ceremony for Phase 1 of Station Hill alongside senior managers for Lincoln Management this March.
The Station Hill project is being undertaken in multiple phases, with phase 2 involving the construction of a 275,000sq ft office building and 30,000 square foot of retail and leisure space.
Once complete, 1,300 apartments, 625,000sq ft of office space and 100,000 square foot of lifestyle led retail and leisure space will be delivered.